Leaders Index 12-15-25

The market put in a disappointing session today. After opening higher the major averages sold off most of the rest of the day. All the major averages finished low in their intraday trading ranges. The COMPQ and the NDX fell.59% and .51% respectively. The SPX lost .16%. Volume was mixed, lower on the New York and very close on the NASD. Leading stocks sold off as well. The leaders index fell 1.15% on the day. The index closed low in its trading range on lower and below average volume. The market started off with decent gains, but they didn’t last long. Selling came in and lasted most of the day with a weak close. After Friday’s action it would have been encouraging to see a positive session today, but it didn’t happen. Like Friday most of the damage was in the NASD averages and tech stocks. Outside of this the action wasn’t too bad. The COMPQ and the NDX both closed under their respective 50dma’s, which is a breach of important support. The rally is under more stress in the last two days. It was looking pretty solid before then. The action must improve quickly or the rally will be in trouble. There is important economic news coming this week, particularly the employment numbers tomorrow and the CPI numbers on Thursday. Both could move the market. Keep your fingers crossed for some friendly numbers. Jerry